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Mission and Job Satisfaction Give Nonprofits an Edge over For-Profit Companies in Attracting and Retaining TalentA new TIAA survey finds three out of four employees and eight in ten managers choose to work at their nonprofit organizations - and stay there for years - because they're committed to making a difference in people's lives. The Nonprofit Survey, conducted as part of TIAA's 100-year anniversary and the TIAA Difference Maker 100 program, also found that nonprofit employees and managers are nearly twice as likely to feel that success is defined not by compensation (33 percent and 32 percent) but by helping others, their community or society (71 percent and 77 percent). "This year marks 100 years of TIAA serving those across the academic, research, cultural, medical, government and nonprofit fields who have dedicated their lives to others," said Roger W. Ferguson, Jr. president and CEO of TIAA. "We have witnessed firsthand the positive impact these extraordinary individuals have had on the world, and thought what better time than now to shine a light on them, their motivations and how their work brings fulfillment to their own lives." According to the survey, managers believe an organization's values and mission (76 percent) and its ability to offer interesting and satisfying work (64 percent) are two big advantages nonprofit organizations have compared to for-profit companies. Job security and satisfaction translates to longevity Fulfilling and interesting work may be one reason employees build long careers in the nonprofit sector. The survey finds:
The spirit of helping others spans generations and retirement The survey shows a strong commitment to giving back among nonprofit employees.
While most nonprofit employees and managers are confident they are saving enough for retirement (50 percent and 64 percent), the survey shows some gaps:
"Retirement security and planning are instrumental in giving people the freedom to choose how they spend their time in retirement," said Ferguson. "It's imperative that employees and managers in the nonprofit sector make the most of their retirement savings plan and develop positive savings habits, so they gain more confidence and are able to achieve their definition of success in retirement." Showcasing those who make a difference To mark TIAA's century of helping those who do good do well, TIAA is recognizing nonprofit employees' contributions and accomplishments by awarding $1 million to support the nonprofit organizations through which they're making a difference. TIAA will make a $10,000 donation in the name of each TIAA Difference Maker 100 honoree to help enable them continue their positive work and inspire us all to do more to make a difference for the next 100 years. To learn more, visit TIAAdifferencemaker100.org. "Our survey validated how important making a difference in other people's lives is to those who work at a nonprofit, and more importantly how it impacts their longevity in the field, career success and plans for retirement," said Ferguson. "Next month, as part of the TIAA Difference Maker 100 program, we will recognize 100 outstanding individuals who have devoted their lives to improving the world. We look forward to sharing their stories." For more information about the TIAA 2018 Nonprofit Survey, read the executive summary (www.tiaa.org/nonprofitsurvey). * The TIAA 2018 Nonprofit Survey was conducted by KRC Research from June 12 to 22, 2018, via an online survey of nonprofit employees and managers between the ages of 18 and 64. The sample includes 1,004 nonprofit employees and 502 nonprofit managers from a variety of nonprofit backgrounds, including government agencies, public and private K-12 schools, higher education, healthcare and church/religious organizations. About TIAA With an award-winning1 track record for consistent investment performance, TIAA (TIAA.org) is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1 trillion in assets under management2 (as of 6/30/20182) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services. 1 The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years' Consistent Return for eligible funds over the three-year period ended 11/30/12 (36 fund companies), 11/30/13 (48), 11/30/14 (48), 11/30/15 (37), 11/30/16 (34) and 11/30/17 (34) with at least five equity, five bond, or three mixed-asset portfolios. Note this award pertains to mutual funds within the TIAA-CREF group of mutual funds; other funds distributed by Nuveen Securities were not included. From Thomson Reuters (News - Alert) Lipper Awards, © 2018 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. Past performance does not guarantee future results. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance, rankings and prospectuses, please visit the Research and Performance section on TIAA.org. Securities offered through Nuveen, LLC, and TIAA-CREF Individual & Institutional Services, LLC, members FINRA and SIPC. 2 Based on $1 trillion of assets under management across Nuveen Investments affiliates and TIAA investment management teams as of 6/30/18. 604599 View source version on businesswire.com: https://www.businesswire.com/news/home/20180918005302/en/ |